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Unfortunately, in this day and age, you need to be really careful with everything you do to avoid people who may want to take advantage of you. The real estate industry is no different; if you don’t prepare and protect yourself, you may fall victim to fraud.

So, in order to help you realize the dangers that are out there, Pacific American Title in Guam has prepared this list of the most common real estate frauds.

Frequent Real Estate Frauds

Title

A title is a lengthy legal document that registers a property’s ownership, history, records, and specifications. Scammers may modify a title to produce false information and gain money.

Foreclosure

Con artists seek properties (and their owners) on foreclosure. Then, they offer their services to solve the matter in exchange for a payment. In the end, the scammer flees with the money.

Forgery

Another kind of real estate fraud happens when a person impersonates the owner of a property on sale or forges the signature and documents to take advantage of a buyer.

Home Inspection

Fraud may occur during the home inspection/renovation phase. A contractor may lie about the condition of a house, the renovations it needs, or even their prices/quality.

Appraisal

An appraisal determines a home’s value, taking into account the neighborhood, its condition, the market, etc. A scammer will increase the price, even though the house isn’t worth it!

For Title Insurance in Guam…

If you want to stay protected against title fraud or any irregularities that may be present in a property’s deed, don’t forget about title insurance! Here at Pacific American Title, we provide you the coverage, advice and information you need to keep your investment safe. Call 671-648-7777 to learn about how we can assist you.